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Good morning, ladies and gentlemen, and welcome to Flamel Technologies 2011 quarter four and annual results conference call. After prepared remarks, we will be opening the conference to a question-and-answer period. As a reminder, today’s call is being recorded. At this time it is my pleasure to turn the conference over to Mr. Stephen Willard. Please go ahead Mr. Willard.

Stephen Willard

Thank you very much. Good morning, ladies and gentlemen. We open as always with the forward-looking statement language which is set out at the conclusion of yesterday’s press releases.

All statements made on this call about future events, results, performance, actual results may differ materially from these statements due to risks and uncertainties over of which we have no control. We encourage our shareholders to review the risks and other disclosures set forth in our SEC filings which are all publicly available.

Yesterday, we announced that we have entered into a definitive agreement to acquire Eclat Pharmaceuticals, a specialty pharmaceutical company that is focused on the development, approval, and commercialization of niche brands and generic products. Eclat has one approved product on the market Hycet, which is a hydrocodone acetaminophen oral solution, as well as a fleet of products that are in various stages of R&D completion.